Home Analyses Dollar Striving to Recover – February 15, 2017

Dollar Striving to Recover – February 15, 2017

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We can say that the Asian stock exchanges left the day in a generally positive outlook. South Korea KOSPI 0.45%, Japan Nikkei 1.10% and Australian ASX index up nearly 1% while China Shanghai Composite index finished slightly lower. US President Donald Trump’s anticipation of tax reforms and the rally in the stock market continue. Yesterday, Fed Chairman Yellen said she was seeing the new historic summits of the S & P 500 index, even though she gave the market a tightening message with falcon tally announcements.

Obviously, there was not much important data in night Asia session. Australia’s Westpac consumer sentiment rose 2.3% to just over the previous year, while new motor vehicle sales were still better than the previous 0.6%. However, we can say that the impact on the AUDUSD is extremely limited.

Yellen is expected to make a presentation today at 18.00, but her own explanations may not bring tough mobility to the market as yesterday. In the past days, the Dollar index, which broke down the downward channel, has risen above 101.00, and Yellen’s messages in parallel with yesterday’s announcements may continue downward in xxx / USD parities and upwards in USD / xxx parities.

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